Markets are said to be efficient when a) the markey price equals the marginal coast of producing the last unit sold. b) the marginal benefits of the last unit sold equals the marginal cost of production. c) all gains from trad have been exploited d) no one walks away from the market wishing they could have sold more at the exisiting price. e) all of the above

ENGR.ECONOMIC ANALYSIS
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Chapter1: Making Economics Decisions
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Markets are said to be efficient when

a) the markey price equals the marginal coast of producing the last unit sold.

b) the marginal benefits of the last unit sold equals the marginal cost of production.

c) all gains from trad have been exploited

d) no one walks away from the market wishing they could have sold more at the exisiting price.

e) all of the above

 

 

 

 

 

 

 

 

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